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Phases of retirement

Preparing for changing needs

It’s important to understand the three phases of retirement and typical experiences and financial needs that emerge during each phase, so you can prepare and shift your financial priorities accordingly.

Gearing up (50, 60s)

Use this time to maximize retirement savings and pay down debt. You’ll also want to develop a specific financial strategy for your retirement that addresses items such as when to begin receiving Social Security benefits and how to manage health care costs.

Taking off (60, 70s)

Maximize your life experiences while keeping your financial footing. Now might also be the right time for you to downsize from your current residence to a more carefree lifestyle.

Cruise control (70s+)

Managing your health may become a prime issue. This is a time when family takes on greater significance and many retirees consider leaving a legacy, if financial resources are available.

Resources

Careers

Social

Financial security for the long run® – Securian

Financial security for the long run® – Securian

Insurance products are issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in Saint Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues.

Property and casualty insurance products are issued by Securian Casualty Company, a New York authorized insurer.